11 NCAC 12 .0403             TERMINATION OF LIFE INSURANCE: EMPLOYEE‑EMPLOYER CONTRACTS

Individual life policies issued pursuant to G.S. 58-58-150 may be terminated by the insurance company when the following conditions occur:

(1)        All like policies issued to employees of an employer are terminated;

(2)        When the employee terminates his employment with that employer.

 

History Note:        Authority G.S. 58-2-40; 58-58-150;

Eff. February 1, 1976;

Readopted Eff. September 26, 1978;

Amended Eff. April 8, 2002.